Oil Investment in Brazil Continues

By Amy Skalmusky, Contributing Reporter

RIO DE JANEIRO, BRAZIL - With the recent Libra oil field discovery promising reserves of up to fifteen billion barrels of oil and Sinochem and BP coughing up billions for space in the Campos Basin, there is little doubt that Brazil is the place to be for the upstream oil giants. But the Brazilian oil market is intimidating for newcomers. Industrial tariffs, bureaucracy, a dominant national oil company and tightening regulations on foreign participation can make setting up shop and . . .

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